NWE January orthoxylene CP split settles at Eur918/mt, up Eur33/mt

The Northwest European orthoxylene contract price for January split settled at Eur918/mt ($1,004/mt), up Eur33/mt from the December settlement, sources told S&P Global Platts Jan. 28.

A seller and two buyers reported settlements at Eur935/mt. One of the buyers also corroborated a split settlement at Eur918/mt.

Another buyer who was not directly involved in the process also reported a settlement split at Eur918/mt.

The settlement at Eur918/mt was also corroborated by a market source.

S&P Global Platts last assessed the European OX spot price at $1,060/mt FOB ARA on Jan. 27, stable on the day and up $35/mt from Dec. 31.

Supply in the spot market remained tight for January, with high demand seen domestically in Europe and also globally. A trader said lower PX prices were limiting production runs of OX, keeping supply tight.

The Platts Orthoxylene FOB ARA spot price has averaged $1,039.72/mt in January, compared with the $1,025/mt December average. The January CP settlement reflected an 11.6% discount to average December spot prices in Europe.